Well, today is Wednesday, March 26th, and we just rejected a 1995, 34-foot Gemini Catamaran that looked very good. It had everything that we needed to live-aboard and cruise the "Great Loop" however, we declined to buy because it needed some costly repairs. Also, after spending two weeks in the process, we decided that we are not ready to take the plunge on the "Great Loop". We went out on the Atlantic yesterday and the area was very busy. There were three major cruise ships in the waterway, heavy traffic, and when we returned, the marina was very crowded and the owner had a minor accident with another boat. Being aboard through all this and along with the extra expenses of boat repairs, we decided to pass up this deal and rethink our plans.
We will travel up to Green Cove Springs and complete our Florida residency, while enjoying the coast and sights. From there, we will continue with a revised plan.
Our apologies to those who assumed that our offer and contract meant that we had purchased a boat.
Just to clarify, the boat buying process is like house-buying;
1. You shop and find a boat that meets your needs.
2. You check it out as best you can, on-board with the owner, taking it out , asking questions, doing research, pricing-comparing, and any thing that will help you.
3. Next, you make an offer and if the offer is accepted, you move to the next step.
4. Make a written contract between the seller and the buyer. Specifies who is responsible for what and involves a 10% down-payment.
5. The buyer orders a marine survey. This is a boat expert that you hire and pay to evaluate the boat that you have offered to purchase. These guys are good and know how to evaluate a vessel. They will give you a report in return for your $750 check. Also, the boat has to be hauled-out as part of the survey and the buyer pays (about $400) for that.
6. If the survey reveals any problems, the buyer can negotiate with the seller and try to reach an agreement.
At this time, the buyer can elect to kill the deal and the seller is obligated to return your 10% down-payment deposit.
And this is what happened today. This is our second boat to reject, so you see, it's like buying a house except acceptable boats are harder to find.